Water Island Capital LLC Invests $6.98 Million in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Water Island Capital LLC acquired a new stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 249,257 shares of the business services provider’s stock, valued at approximately $6,984,000. Water Island Capital LLC owned about 0.07% of Interpublic Group of Companies as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. West Oak Capital LLC raised its position in shares of Interpublic Group of Companies by 0.8% in the fourth quarter. West Oak Capital LLC now owns 55,595 shares of the business services provider’s stock valued at $1,558,000 after purchasing an additional 435 shares during the period. Allworth Financial LP lifted its position in Interpublic Group of Companies by 75.8% during the 4th quarter. Allworth Financial LP now owns 1,113 shares of the business services provider’s stock worth $31,000 after acquiring an additional 480 shares during the last quarter. Xponance Inc. boosted its holdings in Interpublic Group of Companies by 1.0% during the fourth quarter. Xponance Inc. now owns 59,844 shares of the business services provider’s stock valued at $1,677,000 after acquiring an additional 587 shares during the period. Proactive Wealth Strategies LLC grew its position in shares of Interpublic Group of Companies by 5.8% in the fourth quarter. Proactive Wealth Strategies LLC now owns 11,094 shares of the business services provider’s stock valued at $311,000 after purchasing an additional 607 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of Interpublic Group of Companies by 0.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 117,333 shares of the business services provider’s stock worth $3,288,000 after purchasing an additional 611 shares during the last quarter. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IPG has been the topic of several recent analyst reports. UBS Group raised Interpublic Group of Companies from a “sell” rating to a “neutral” rating and dropped their price target for the stock from $29.00 to $27.00 in a research report on Thursday, February 13th. JPMorgan Chase & Co. upgraded Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $32.00 to $39.00 in a research note on Monday, January 27th. StockNews.com started coverage on Interpublic Group of Companies in a report on Thursday. They set a “hold” rating on the stock. Argus lowered Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Finally, BNP Paribas upgraded shares of Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price target on the stock in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $33.50.

Insider Transactions at Interpublic Group of Companies

In other Interpublic Group of Companies news, CFO Ellen Tobi Johnson sold 21,427 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $26.82, for a total value of $574,672.14. Following the completion of the sale, the chief financial officer now owns 143,373 shares of the company’s stock, valued at approximately $3,845,263.86. This represents a 13.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.42% of the stock is owned by corporate insiders.

Interpublic Group of Companies Price Performance

IPG opened at $24.57 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market capitalization of $9.16 billion, a P/E ratio of 13.43 and a beta of 1.01. The company’s 50 day simple moving average is $26.44 and its 200-day simple moving average is $28.40. The Interpublic Group of Companies, Inc. has a one year low of $22.51 and a one year high of $33.05.

Interpublic Group of Companies (NYSE:IPG) last released its earnings results on Wednesday, February 12th. The business services provider reported $1.11 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.04). Interpublic Group of Companies had a net margin of 6.45% and a return on equity of 27.10%. Sell-side analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.37%. The ex-dividend date of this dividend was Monday, March 3rd. Interpublic Group of Companies’s dividend payout ratio is presently 72.13%.

Interpublic Group of Companies announced that its board has approved a share buyback plan on Wednesday, February 12th that permits the company to repurchase $155.00 million in shares. This repurchase authorization permits the business services provider to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Interpublic Group of Companies Profile

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in three segments: Media, Data & Engagement Solutions, Integrated Advertising & Creativity Led Solutions, and Specialized Communications & Experiential Solutions. The Media, Data & Engagement Solutions segment provides media and communications services, digital services and products, advertising and marketing technology, e-commerce services, data management and analytics, strategic consulting, and digital brand experience under the IPG Mediabrands, UM, Initiative, Kinesso, Acxiom, Huge, MRM, and R/GA brand names.